Corn futures are trading 4 to 5 cents lower in most contracts on Thursday. An update from Brazil’s CONAB this morning showed the country’s total corn crop estimate at 91.19 MMT, up slightly from their December number on a larger first crop. Agroconsult is well above Brazil’s government agency (CONAB) at 95.6 MMT. Argentina’s corn crop estimate from the Rosario Grain Exchange was up from their prior range of 42-43 MMT to 44 MMT. A South Korean feed importer purchased 69,000 MT of optional origin corn on Thursday.

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